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Pivot Trading

  • #41,961
  • Feb 7, 2023 12:27pm Feb 7, 2023 12:27pm
Quoting Davit
{quote} It still might work out however when you look at CAD crosses all of them are over sold which creates pressure to release. GC EC NC CJ all poised to correct therefore I am not buying CAD now
I got lucky, closed with +86 pips
  • #41,962
  • Feb 7, 2023 12:44pm Feb 7, 2023 12:44pm
NAS and US30 both to ADR high AND ADR low within 45 minutes.
  • #41,963
  • Feb 7, 2023 12:48pm Feb 7, 2023 12:48pm
Today I couldn't resist :-)

Biggest mistake today EG - bad timing and then I had to leave = bad position management...well just all wrong


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It's not a dream. Chipsa is real!
  • #41,964
  • Feb 7, 2023 12:48pm Feb 7, 2023 12:48pm
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It's not a dream. Chipsa is real!
  • #41,965
  • Feb 7, 2023 1:01pm Feb 7, 2023 1:01pm
Quoting John Chipsa
Today I couldn't resist :-) Biggest mistake today EG - bad timing and then I had to leave = bad position management...well just all wrong {image} {image} {image} {image} {image} {image} {image} {image} {image} {image}
Try reducing your trading pairs.You are all over. CHF is flip of Euro so no point of it.Its one Currency I recommend not trading with real money.Highly manipulated and dangerous. You got 7 !! Euro pairs that's 7x the risk on same base currency.

Seriously you have to take time and have solid understanding what you are doing.I hope its not real money.I recently posted about compounding risk.
??
Another thing why would you buy EG? I didn't see any set up
In trading, you have to be defensive and aggressive at the same time
  • #41,966
  • Feb 7, 2023 1:19pm Feb 7, 2023 1:19pm
Quoting Davit
{quote} Try reducing your trading pairs.You are all over. CHF is flip of Euro so no point of it.Its one Currency I recommend not trading with real money.Highly manipulated and dangerous. You got 7 !! Euro pairs that's 7x the risk on same base currency. Seriously you have to take time and have solid understanding what you are doing.I hope its not real money.I recently posted about compounding risk. ?? Another thing why would you buy EG? I didn't see any set up
If I may add.........I DID NOT become profitable until doing this exact thing. I trade MAX 3 (usually only 2) forex pairs simultaneously, and NEVER more than 2 involving the same currency. However, there are exceptions, in a "risk off" environment where JPY and USD are strong and AUD,CAD and NZD are weak....you can sell EUR against YEN and buy EUR against AUD and both will make money, "risk on" is opposite effect.......NOT ALWAYS, of course, which is why watching price react is SO IMPORTANT......
1. Pivots are lines in the sand
2. Events, market sentiment make the price react on and around these lines
3. Price Action is KING
  • #41,967
  • Feb 7, 2023 2:00pm Feb 7, 2023 2:00pm
Quoting Davit
{quote} Try reducing your trading pairs.You are all over. CHF is flip of Euro so no point of it.Its one Currency I recommend not trading with real money.Highly manipulated and dangerous. You got 7 !! Euro pairs that's 7x the risk on same base currency. Seriously you have to take time and have solid understanding what you are doing.I hope its not real money.I recently posted about compounding risk. ?? Another thing why would you buy EG? I didn't see any set up
Davite thanks for your time, you are definitely right and CHF is unnecessary. After all you write that on the first page as well. I'll throw it out and it will be quiet and not tempting.
I've been doing FF for over 12 years and sometimes my style is such a punk, which is not good.

The worst thing for me is discipline, which I admire in you and others who have been around a long time. That's why sometimes I feel like I'm "all over the place"
Compounding risk is the key, other than that, as you write in the grumble.

Well, I'm human too, and sometimes I rebel...

PS: EG was my stupidity, there was nothing there, but somehow I looked stupidly and took it, and in addition, the house was a mess... Well, a mistake that came right back...
It's not a dream. Chipsa is real!
  • #41,968
  • Feb 7, 2023 2:00pm Feb 7, 2023 2:00pm
Quoting pipmaster77
{quote} If I may add.........I DID NOT become profitable until doing this exact thing. I trade MAX 3 (usually only 2) forex pairs simultaneously, and NEVER more than 2 involving the same currency. However, there are exceptions, in a "risk off" environment where JPY and USD are strong and AUD,CAD and NZD are weak....you can sell EUR against YEN and buy EUR against AUD and both will make money, "risk on" is opposite effect.......NOT ALWAYS, of course, which is why watching price react is SO IMPORTANT...... 1. Pivots are lines in the sand 2. Events,...
Thank you too, you've been here for a long time :-)

However, if I'm watching so much steam, there's also a problem with spreading the risk because I can't go with more volume. One actually dilutes volume by volume.
It's not a dream. Chipsa is real!
  • #41,969
  • Feb 7, 2023 2:01pm Feb 7, 2023 2:01pm
Quoting Davit
Waiting something to happen on AN but she wont cooperate This pair has been real sleeper lately...Cant believe taking it again after fruitless tries Cant fault me for not trying {image}
I would appreciate if I understand more about what exactly are you waiting to see happen on this pair please enlighten me more please... Cheers
  • #41,970
  • Feb 7, 2023 2:12pm Feb 7, 2023 2:12pm
i took some profit here
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  • #41,971
  • Feb 7, 2023 3:39pm Feb 7, 2023 3:39pm
Quoting Jnr6or
{quote} I would appreciate if I understand more about what exactly are you waiting to see happen on this pair please enlighten me more please... Cheers
I took this trade too. Currently against me but hoping its found some resistance. Entered at ADR high and R38. Looked good on H4
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Successful trading is intrinsic to risk management and discipline
  • #41,972
  • Feb 7, 2023 3:45pm Feb 7, 2023 3:45pm
I posted this trade a few days ago. Wish I stuck with it, took profit on Monday and exited. Damn
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Successful trading is intrinsic to risk management and discipline
  • #41,973
  • Feb 7, 2023 5:05pm Feb 7, 2023 5:05pm
Quoting Jnr6or
{quote} I would appreciate if I understand more about what exactly are you waiting to see happen on this pair please enlighten me more please... Cheers
If you exclude both CAD's and AUD run during covid AN most part stayed below 1.1.Its a huge psychological level.Now we really dont have covid crises therefore fundamentally it should not continue moving north.
Anything can happen that's my analyses.
1.1014 is R61 should be massive R
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In trading, you have to be defensive and aggressive at the same time
  • #41,974
  • Feb 7, 2023 5:13pm Feb 7, 2023 5:13pm
Quoting John Chipsa
{quote} Davite thanks for your time, you are definitely right and CHF is unnecessary. After all you write that on the first page as well. I'll throw it out and it will be quiet and not tempting. I've been doing FF for over 12 years and sometimes my style is such a punk, which is not good. The worst thing for me is discipline, which I admire in you and others who have been around a long time. That's why sometimes I feel like I'm "all over the place" Compounding risk is the key, other than that, as you write in the grumble. Well, I'm human too, and...
Myself also 12yrs and I suggest you must reign in on your impulses.Pipmaster77 suggestion is also what I practice.I respect him he manages funds using this system should tell you something about this method.Make trading boring as possible because if its too exciting you are doing something wrong.
regards
In trading, you have to be defensive and aggressive at the same time
  • #41,975
  • Feb 7, 2023 5:16pm Feb 7, 2023 5:16pm
G pairs should start moving north from Thurs on. Thurs Monetary Policy Report Hearings Fri GDP
EG could drop to 88 by week close
Its already heading that way
In trading, you have to be defensive and aggressive at the same time
  • #41,976
  • Feb 7, 2023 6:09pm Feb 7, 2023 6:09pm
That's what I got yesterday, got stop hunt with EURNZD for tight SL when AUD news released.
Still hold DD on AN for short posistions
Hope everyone have nice trading days ^^
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  • #41,977
  • Feb 8, 2023 4:11am Feb 8, 2023 4:11am
GC. Suport at S38 few times price reacted previously. Tomorrow GBP red news
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  • #41,978
  • Feb 8, 2023 7:13am Feb 8, 2023 7:13am
Closed GC as loss. Rather cut my red here then risk plunging it down again.Less concern about EG since Euro is hopelessly weak.Will hold this.
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In trading, you have to be defensive and aggressive at the same time
  • #41,979
  • Feb 8, 2023 7:21am Feb 8, 2023 7:21am
10:30 Crude Oil Inventories
Moves the CAD more oil bad for CAD less stock good for CAD
In trading, you have to be defensive and aggressive at the same time
  • #41,980
  • Feb 8, 2023 7:24am Feb 8, 2023 7:24am
Might short CJ
Personally think there is plenty of crude.Its on my radar
In trading, you have to be defensive and aggressive at the same time
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